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When is it advisable to use a notary public in sales contracts in Mexico?
It is recommended to involve a notary public in real estate sales contracts or when the parties wish to publicly attest to the transaction for greater security and legal validity.
Do KYC regulations in Panama require periodic review of customer information?
Yes, KYC regulations in Panama require periodic review of customer information. Financial institutions should update information and conduct risk reviews on a regular basis, especially in the case of high-risk relationships or significant changes.
What is the contractor selection process in agricultural development projects in Ecuador to ensure ethical and sustainable practices?
The process of selecting contractors in agricultural development projects in Ecuador to ensure ethical and sustainable practices involves the review of previous experiences in similar projects, the consideration of sustainable agricultural techniques and the active participation of agricultural communities in decision-making. Contractors must contribute to the sustainable development of the agricultural sector.
What is the risk-based approach and how is it applied in the prevention of money laundering in Costa Rica?
The risk-based approach is a strategy used in the prevention of money laundering that seeks to identify, evaluate and mitigate the risks associated with activities that may be used for money laundering. In Costa Rica, this approach is applied to adapt prevention and detection measures according to the level of risk of financial institutions and other sectors. Periodic risk assessments are carried out to determine the most effective and proportional measures in each case, allowing resources to be allocated efficiently.
How can companies address fraud and corruption in the Dominican Republic?
To address fraud and corruption, companies must implement prevention policies, conduct internal investigations, report any suspicious activity, and cooperate with appropriate authorities. It is also important to foster a culture of integrity.
How is KYC information handled for clients who are migrants in the Dominican Republic?
KYC information of migrant clients in the Dominican Republic is handled by verifying their residency status and related documentation. This may include presenting documents proving your legal status in the country, such as a work visa or residence permit. Financial institutions must ensure that migrant clients comply with local regulations and verify the source of their funds. It is essential to ensure that the rights and dignity of migrant clients are respected.
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